Riyadh – Mubasher: Saudi Networkers Services Company has announced the renewal of a comprehensive framework agreement with a prominent local bank in Saudi Arabia for a five-year duration, according to a bourse filing.

The contract is renewable and focuses on the provision of specialized services, and it was signed on 2 June 2026.

It is expected to have a substantial impact on the company’s financial trajectory, with projected revenues from the agreement anticipated to exceed 15% of the total annual revenue for the 2026 fiscal year.

The framework agreement renewal represents a continuation of the strategic relationship between the company and the domestic banking sector, reinforcing Saudi Networkers Services' position as a preferred partner for large-scale financial institutions within the Kingdom.

The agreement is structured as a framework arrangement for the delivery of services. Under this model, the specific scope and volume of work are not fixed at the time of signing. Instead, the total value of the contract will be determined progressively through individual work orders issued by the bank. These orders will be executed based on the predefined terms, conditions, and pricing structures established within the framework, allowing for operational flexibility while maintaining a consistent service standard.

Notably, the agreement includes a provision for extension, suggesting a long-term commitment to collaboration between the two parties. This multi-year horizon provides Saudi Networkers Services with a stable foundation for operational planning and resource allocation over the coming half-decade.

The financial impact of the renewed agreement is scheduled to begin appearing in the company’s financial statements starting from the 2026 fiscal year. As the bank initiates work orders and the company fulfills its service obligations, the resulting revenue will be recognized in the periodic financial reports.

This clear timeline allows investors and analysts to track the contract's contribution to the company’s top-line performance as the 2026 fiscal period progresses.

In accordance with regulatory requirements and corporate governance standards, Saudi Networkers Services has confirmed that there are no related parties involved in this transaction.

The agreement was reached through standard commercial negotiations, ensuring that the contract serves the best interests of the company and its shareholders without any conflicts of interest.

Moreover, this renewal underscores the company's ability to retain high-value institutional clients and maintain its competitive edge in the Saudi service sector. By securing a long-term commitment from a major local financial institution, Saudi Networkers Services demonstrates its operational reliability and its capacity to manage large-scale service frameworks that contribute significantly to its annual turnover.

In April 2026, Saudi Networkers Services extended a credit facilities agreement worth SAR 50 million with a leading listed Saudi bank.